Macro Morning

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By Chris Becker

A mixed night – read: traders looking at each other working out what to do – as oil hovered at its recent lows, Treasuries sold off and USD remained firm as US stocks put in a scratch session, unable to decipher the latest domestic political agenda, particularly for healthcare stocks.

In mainland China the Shanghai Composite was gaining going into the close, up almost 0.5% or so but have given that up and then some, down 0.3% to 3147 points, still unable to build above key support at the 3100 point level. The 3150 point level needs to be cleared soon as price is clustering just below the 200 day moving average, indicating the bears remain in charge:

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